Okla. Admin. Code § 165:10-27-11

Current through Vol. 42, No. 7, December 16, 2024

Section 165:10-27-11 - Balancing of royalty accounts

(a) In the event of a production imbalance among royalty owners in a well, the affected working interest owners may adopt a royalty payment method to balance the royalty accounts, provided it is used only to extent necessary to balance the cumulative accounts of the royalty owners, and prior notice of the plan is sent to the affected royalty owners and to the well operator along with any ongoing information necessary for said operator to discharge its duties.

(b) Nothing in this Section shall impair any balancing rights arising by contract or law.

Okla. Admin. Code § 165:10-27-11

Added at 10 Ok Reg 2601, eff 6-25-93

Amended by Oklahoma Register, Volume 32, Issue 23, August 17, 2015, eff. 8/27/2015.